Primerica (NYSE:PRI) Price Target Raised to $335.00

Primerica (NYSE:PRI) had its target price hoisted by Keefe, Bruyette & Woods from $323.00 to $335.00 in a research report report published on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. TD Cowen raised their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, July 24th. Finally, Jefferies Financial Group boosted their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Primerica has a consensus rating of “Hold” and a consensus target price of $310.67.

Primerica Trading Up 0.5%

Primerica stock opened at $312.40 on Tuesday. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 12.55 and a beta of 0.87. The stock has a fifty day simple moving average of $299.63 and a two-hundred day simple moving average of $276.27. Primerica has a 12 month low of $230.09 and a 12 month high of $327.28.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.46 EPS. On average, equities research analysts forecast that Primerica will post 24.85 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be issued a $1.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. Primerica’s dividend payout ratio is presently 19.28%.

Insider Buying and Selling

In related news, Director Amber Lynne Cottle sold 279 shares of Primerica stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total transaction of $87,502.77. Following the transaction, the director directly owned 3,549 shares of the company’s stock, valued at $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares of the company’s stock, valued at $2,743,548.04. This trade represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,079 shares of company stock valued at $1,491,890 over the last quarter. 0.63% of the stock is owned by corporate insiders.

Institutional Trading of Primerica

Institutional investors have recently made changes to their positions in the business. SJS Investment Consulting Inc. increased its stake in Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Primerica during the second quarter worth $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the fourth quarter valued at $30,000. Root Financial Partners LLC grew its holdings in shares of Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after buying an additional 61 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Primerica by 68.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.